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Color can be described in several ways using a color model such as RGB or CMYK. As you work in your image, you specify colors using one of the color models. In Photoshop you choose the approach to color that’s appropriate for your image and how it’s being used.

More information on Color Modes
Courtesy of Adobe Resource Center
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You can smooth the hard edges of a selection by anti-aliasing and by feathering.
Process:
Definitions:
Textual information courtesy of Adobe Resource Center
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Layers are the building blocks of many image creation workflows. You may not need to work with layers if you are doing simple image adjustments, but layers help you work efficiently and are essential to most nondestructive image editing.
Adobe Help Resource Center on Layers
Textual description courtesy of Adobe Resource Center Help – www.adobe.com
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The Adobe® Photoshop® CS3 workspace is arranged to help you focus on creating and editing images. The workspace includes menus and a variety of tools and palettes for viewing, editing, and adding elements to your images.
Check out more detailed information about these settings courtesy of the Adobe Resource Center – Workspace in Adobe Photoshop CS3
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